Taiwan Semiconductor Manufacturing Co (TSMC) continued a run of revenue growth in January, but sales across Q1 are expected to be at the lower end of a previous guidance following an earthquake in southern Taiwan late in the month.

Last month, the company predicted revenue in the current quarter would increase by between 32.5 per cent and 36.7 per cent.

Sales in January grew 35.9 per cent year-on-year to TWD293.3 billion ($8.9 billion).

In Q4 2024, revenue rose 39 per cent to TWD869.5 billion.

Based on a preliminary assessment, the contract chipmaker estimated losses from the earthquake to be about TWD5.3 billion net of insurance claims, which it will recognise in Q1.

In a statement, TSMC explained while there was no structural damage to its fabrication facilities, some wafers being processed were impacted and had to be scrapped. It added water, power, workplace safety systems and operations are functioning normally.

The chipmaker stated it is making “every effort to recover the lost production”, with no change to its full-year outlook.